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151211 reallymoving-q2migration-with-links

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  • 1. Reallymoving.com Quarterly Migration Monitor April 2010ContentsOverview 2City lights lose out as homemovers are drawn to 2country lifeShifting economic sands drive dynamic internal 3migrationNo room at the inn - London postcode zones 4Notes to Editors 4
  • 2. OverviewThe reallymoving.com Quarterly Migration Monitor looks at migration patterns and prevailing trends among homemovers around the UK. The latest data for Q1 2010 shows that: Inverness is the top destination for home movers Uxbridge is the least popular destination The average move in the UK is 70.26 miles West Central London properties are the smallest in the UK, with an average of just 1.6 bedroomsCity lights lose out as homemovers are drawn to country life Inverness is the top postcode area for home movers Uxbridge is the least popular postcode area Dynamic provincial towns lead the popularity stakes Urban areas out of favour London dominates at the bottom of the rankings In Favour - Most popular Out of Favour - Least postcode areas popular postcode areas 1. IV - Inverness UB - Uxbridge 2. TR - Truro RM - Romford 3. IP - Ipswich BD - Bradford 4. NR - Norwich IG - Ilford 5. TQ - Torquay TW - Twickenham 6. PH - Perth SE - London SE 7. DT - Dorchester SW - London SW 8. LN - Lincoln AB - Aberdeen 9. BH - Bournemouth LU - Luton 10. TA - Taunton WD - WatfordRosemary Rogers, Director, reallymoving.com comments:“These figures show a clear trend: Urban areas, particularly around London, are out of favour among UKhomemovers who are instead flocking to dynamic and desirable provincial centres.”Country towns in favour“Homemovers, in and around London, have seen the economic downturn as an opportunity to escape the rat-race for amore balanced lifestyle. The data shows a clear trend of people viewing the early stages of the recovery as an ideal timeto buy into desirable but previously unaffordable country towns before renewed house price growth takes values out ofreach once again.“The Norfolk/Suffolk Coast, Bournemouth, Dorchester and the West Country, while still as desirable as ever, are nowmuch more affordable than before, accounting for the popularity of areas like Ipswich, Norwich, Bournemouth andTorquay. Those who have significant equity are therefore looking to buy now, cashing in on a still-buoyant London marketand taking advantage of the historically low base rate.“Inverness is the most popular destination for UK homemovers, which is perhaps no surprise given the city’sreputation as the fastest growing in Western Europe thanks to a range of hi-tech industries and transport connectionswhich make it a perfect base from which to explore the highlands. Second-placed Truro has also long been seen asdesirable as a gateway to Cornwall’s charms.” Reallymoving.com (C) 2010. All Rights Reserved. 2
  • 3. London dominates at the bottom of the table“The Greater London area dominates the bottom of the table, suggesting that homemovers have fallen out of love withthe bright lights of the capital.“Uxbridge is the least popular area according to our data. The area, much like Ilford and Romford, is traditionallyhome to a high proportion of first-time buyers. The town has therefore struggled through the recession as therestriction of mortgage lending has stymied many people from entering the market.“On the other hand, fearful of unemployment and faced with rising house prices and tightened credit conditions, manywhite-collar city-based workers living in the SE, SW and TW postcode areas in South London will have been feelingvulnerable through the recession. These concerns will have led many to leave these fashionable but expensive areas infavour of more affordable commuter towns on the fringes of the M25.”Shifting economic sands drive dynamic internal migration The typical home move in Halifax is just over 34 miles - the shortest in the UK Residents in Inverness typically move the furthest distance - almost 300 miles The average distance moved in the UK is just over 70 miles - equivalent to the distance between Londonand Folkestone Shortest Moves Longest Moves 1. HX - Halifax IV - Inverness 2. DA - Dartford FY - Blackpool 3. DY - Dudley KY - Kirkcaldy 4. AL - St. Albans AB - Aberdeen 5. SN - Swindon TD - Galashiels Average distance moved in the UK: 70.26 milesRosemary Rogers, Director, reallymoving.com comments:“The average distance moved in the UK is surprisingly large at just over 70 miles. It seems likely that this is in partdue to the recession as, with fewer jobs available, people are forced to look beyond their immediate local area whensearching for work. I would anticipate this trend to continue in the medium term as structural changes in the UKeconomy caused by the downturn affect the location of industry and, therefore, patterns of internal migration.“Residents of Halifax move the shortest distance on average. This is perhaps surprising given the upheaval in thetown, particularly following the difficulties faced by the Halifax bank and its subsequent merger with the Lloydsbanking group in January 2009.“However, the town benefits from being placed directly between the two major economic centres of Leeds-Bradford andManchester, with good transport links to both. It is also close to the more attractive and desirable towns ofHarrogate and York. Halifax’s prime position at the heart of the industrial North means that the shifting economicfortunes of the town itself have not translated into significant migration away from the area.“It is noticeable that Scottish towns dominate the list of the longest average moves. In part this is no surprise giventhe lower population density and greater distance between urban centres north of the border, but it also reflectssignificant changes in local economies. Inverness and Aberdeen are both looking to develop burgeoning reputationsas centres for hi-tech industries such as renewable energy, attracting skilled workers from far beyond the local area.” Reallymoving.com (C) 2010. All Rights Reserved. 3
  • 4. No room at the inn - London postcode zones Most Bedrooms Fewest Bedrooms 1. PE - Peterborough WC - London WC 2. IV - Inverness EC - London EC 3. NN - Northampton E - London E 4. TA - Taunton UB - Uxbridge 5. TN - Tonbridge N - London N 6. MK - Milton Keynes W - London W 7. KY - Kirkcaldy SE - London SE 8. SY - Shrewsbury TW - Twickenham 9. LD - Llandrindod Wells SW - London SW 10. IP - Ipswich EN - Enfield Homes in Peterborough have the most bedrooms of anywhere in the UK Space is at a premium in the capital with London areas make up the entire bottom 10Rosemary Rogers, Director, reallymoving.com comments:“London has always been notorious for its high property prices. Our data shows that, in addition to high values,homes in the capital also typically offer the least space of anywhere in the UK. Properties in the WC and EC postcodezones are unique in the country in having less than two bedrooms on average. Peterborough properties by contrast,average 3.2 bedrooms each.“Edinburgh, in 13th place, is the highest postcode area on the list that is outside the M25, highlighting the premium onspace in the capital, even compared with the UK’s other major urban centres.Notes to EditorsAbout the reallymoving.com Migration MonitorThe Migration Monitor is a quarterly report on home-moving trends in the UK, based on information entered by users ofreallymoving.com. The Migration Monitor is based on data from 33,425 registrations for quotes for moving services suchas Conveyancing, Home Removals, HIPS and Surveys in the first quarter of 2010.About reallymoving.comreallymoving.com was launched in November 1999, and has become the UKs leading provider of free instant onlinequotes for home-moving services. The site provides instant quotes for a variety of services including domesticremovals, surveys, conveyancing solicitors, Home Information Packs, Energy Performance Certificates and ScottishHome Reports and a choice between local and national service providers.For more information visit http://www.reallymoving.comFor further information please contact The Wriglesworth Consultancy, 020 7427 1400Fiona Brandhorst - Director - f.brandhorst@wriglesworth.comSuman Hughes - Senior Account Manager - s.hughes@wriglesworth.comRob Bartlett - Account Executive - r.bartlett@wriglesworth.com Reallymoving.com (C) 2010. All Rights Reserved. 4

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